Bank of Nova Scotia Decreases Stock Position in Hyatt Hotels Corporation $H

Bank of Nova Scotia trimmed its holdings in Hyatt Hotels Corporation (NYSE:H) by 10.6% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 1,561,510 shares of the company’s stock after selling 184,800 shares during the period. Bank of Nova Scotia owned 1.64% of Hyatt Hotels worth $221,625,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Johnson Financial Group Inc. lifted its holdings in shares of Hyatt Hotels by 450.0% in the third quarter. Johnson Financial Group Inc. now owns 176 shares of the company’s stock valued at $25,000 after purchasing an additional 144 shares in the last quarter. EverSource Wealth Advisors LLC increased its stake in shares of Hyatt Hotels by 98.2% during the 3rd quarter. EverSource Wealth Advisors LLC now owns 216 shares of the company’s stock worth $31,000 after purchasing an additional 107 shares in the last quarter. Quent Capital LLC acquired a new position in shares of Hyatt Hotels during the 3rd quarter worth approximately $34,000. MAI Capital Management raised its position in shares of Hyatt Hotels by 53.4% during the 2nd quarter. MAI Capital Management now owns 270 shares of the company’s stock worth $38,000 after purchasing an additional 94 shares during the last quarter. Finally, Smartleaf Asset Management LLC lifted its stake in Hyatt Hotels by 66.1% in the 3rd quarter. Smartleaf Asset Management LLC now owns 274 shares of the company’s stock valued at $40,000 after buying an additional 109 shares in the last quarter. Institutional investors and hedge funds own 73.54% of the company’s stock.

Hyatt Hotels Price Performance

H stock opened at $139.38 on Friday. The stock has a market capitalization of $13.17 billion, a price-to-earnings ratio of -248.89, a price-to-earnings-growth ratio of 1.72 and a beta of 1.22. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 1.17. Hyatt Hotels Corporation has a 52-week low of $102.43 and a 52-week high of $180.53. The stock’s fifty day simple moving average is $162.35 and its 200-day simple moving average is $154.93.

Hyatt Hotels (NYSE:H) last released its earnings results on Thursday, February 12th. The company reported $1.33 EPS for the quarter, beating the consensus estimate of $0.29 by $1.04. Hyatt Hotels had a positive return on equity of 5.53% and a negative net margin of 0.73%.The firm had revenue of $1.79 billion during the quarter, compared to analyst estimates of $1.78 billion. During the same period in the prior year, the firm posted $0.42 earnings per share. Equities research analysts expect that Hyatt Hotels Corporation will post 3.05 EPS for the current year.

Hyatt Hotels Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 12th. Stockholders of record on Monday, March 2nd were paid a dividend of $0.15 per share. The ex-dividend date of this dividend was Monday, March 2nd. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.4%. Hyatt Hotels’s dividend payout ratio is currently -107.14%.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. Citigroup raised their price target on Hyatt Hotels from $167.00 to $195.00 and gave the stock a “buy” rating in a research report on Wednesday, February 18th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Hyatt Hotels in a research note on Monday, December 29th. Barclays lifted their price objective on Hyatt Hotels from $198.00 to $200.00 and gave the stock an “overweight” rating in a research report on Friday, February 13th. Evercore reissued an “in-line” rating and issued a $175.00 target price (up from $170.00) on shares of Hyatt Hotels in a research note on Thursday, January 22nd. Finally, Sanford C. Bernstein reaffirmed an “outperform” rating and set a $188.00 price target on shares of Hyatt Hotels in a research note on Friday, January 2nd. Two analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and six have issued a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $175.80.

Insider Buying and Selling at Hyatt Hotels

In related news, insider Javier Aguila sold 9,548 shares of the firm’s stock in a transaction that occurred on Tuesday, December 23rd. The shares were sold at an average price of $165.87, for a total value of $1,583,726.76. Following the sale, the insider directly owned 2,684 shares of the company’s stock, valued at approximately $445,195.08. This trade represents a 78.06% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 23.70% of the stock is currently owned by insiders.

Hyatt Hotels Company Profile

Hyatt Hotels Corporation (NYSE: H) is a global hospitality company that develops, owns, manages and franchises luxury and business hotels, resorts and vacation properties. Its portfolio spans a range of price points and styles under brands such as Park Hyatt, Grand Hyatt, Andaz, Hyatt Regency, Hyatt Centric, Hyatt Place, Hyatt House, Thompson Hotels, Alila and Destination by Hyatt. In addition to accommodations, the company provides meeting and event spaces, food and beverage outlets, spa and wellness centers, and a variety of guest services designed to cater to both leisure and business travelers.

Hyatt’s business model combines property ownership, management contracts and third-party franchising.